Positive result in the fourth quarter concludes a strong financial year
Fourth quarter - 1 February to 30 April
- Sales excluding the acquired
Spares Group increased by 12% to 1,998 MSEK (1,776), an organic growth of 13% and an increase of 12% in comparable units. Sales includingSpares Group amounted to 2,167 MSEK (1,776) -
Sales online excluding
Spares Group increased by 11% to 246 MSEK (220). Sales online includingSpares Group amounted to 414 MSEK (220) - Operating profit amounted to 65 MSEK (-7)
- The operating margin was 3.0% (-0.4)
- Net debt/EBITDA (12 months) excl IFRS 16 amounted to -0.2 times (0.2)
- Profit after tax totalled 41 MSEK (-23)
-
Earnings per share was
0.64 SEK (-0.36)
Financial year - 1 May to 30 April
- Sales excluding the acquired
Spares Group increased by 10% to 9,885 MSEK (9,024), an organic growth of 11% and an increase of 11% in comparable units. Sales includingSpares Group amounted to 10,232 MSEK (9,024) -
Sales online excluding
Spares Group increased by 14% to 1,206 MSEK (1,054). Sales online includingSpares Group amounted to 1,553 MSEK (1,054) - Operating profit amounted to 717 MSEK (305). Adjusted operating profit amounted to 921 MSEK (459)
- The operating margin was 7.0% (3.4)
- Profit after tax totalled 509 MSEK (181)
-
Earnings per share was
8.03 SEK (2.85) -
The proposed dividend is
4.25 SEK per share
Events after the end of the reporting period
- Sales in May, excluding the acquired
Spares Group , increased by 15% to 772 MSEK (670), an organic growth of 13% and an increase of 10% in comparable units. Sales, includingSpares Group , amounted to 848 MSEK (670)
CEO
For the first time since 2016/17, we have closed a fourth quarter with a positive result. The choices we have made to focus on our strengths in selected product niches, to continue to develop our strong brand and to invest in the customer meeting are yielding results. In the fourth quarter, organic sales growth was 13 per cent and operating profit improved to 65 MSEK, compared to -7 MSEK in the previous year. For the full year, organic sales growth was 11 per cent, compared to the target of 5 per cent, and the operating margin improved to 7 per cent, compared to the profitability target of 7-9 per cent. All in all, earnings per share grew to
Initiatives that deliver results
Growth in all prioritised product categories continued in the fourth quarter. We have maintained a high pace in launching new products, which has driven both customer interest and sales. Combined with relevant marketing, this strengthens
The development of the customer meeting in stores and online has proceeded with good results. Customers appreciate the service they receive, and sales in comparable units increased by 12 per cent in the fourth quarter. At the same time, we continued to develop the store network with seven store openings and one closure. We look forward to opening more
Competitiveness at all levels
We want to continue to streamline ourselves at all levels to further strengthen our competitiveness. We have moved to a lower cost level through the changes we have implemented in the organisation over the past year and are now taking the next step. Previously communicated simplification of the IT landscape is now entering the next phase with the implementation of new standardised systems that will help us lower operational costs. Constantly working on operational efficiency is necessary to enable growth initiatives and to defend our price position in the market.
Clear plan for sustainable and profitable growth
The initiatives we have been working on contribute to sustainable and profitable growth, and we will continue to work on the current path to create customer and shareholder value also in 2024/25. For example, the work on expanding the store network will continue and at the same time be broadened to include more improvement measures in existing stores. With the ambitious plan for the store network and the IT project mentioned above, we will return to a more normal total investment level of approximately 200 MSEK for the 2024/25 financial year, with IT investments accounting for around 30-50 MSEK.
We also continue to tie sustainability work even closer to the business with investments in the spare part offering and other initiatives that create a more sustainable business model.
The ambitions are high, but with the commitment of all employees in the organisation, we are building
Webcasted presentation today at
President and CEO
If you wish to participate via webcast, please use the link below. Via the webcast you are able to ask written questions. Link to webcast.
If you wish to participate via teleconference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference. Link to teleconference.
An on-demand version of the webcast will be available at about.clasohlson.com after closing of the presentation.
For more information, please contact:
This is information that
https://news.cision.com/clas-ohlson/r/clas-ohlson-year-end-report-2023-24,c3995310
https://mb.cision.com/Main/1116/3995310/2845061.pdf
https://mb.cision.com/Public/1116/3995310/b0cab1e9601dea0e.pdf
(c) 2024 Cision. All rights reserved., source